Hey, maybe y'all can give some unbiased advice. My wife co-owns a €1.4 million villa in Spain with her grandma. The property has been on the market for 2 years. I'm inclined to believe that the realtors are incompetent and that something is being done wrong. Am I crazy, or is something wrong here?
There's an older lady who's a family friend who currently manages the property and deals with the realtors on my wife's behalf. She's lovely, but not an expert in this, by any means. We are told by her that an appraisal late last year upheld the €1.4 million valuation, but to be fair, neither of us have seen that appraisal.
The property is currently listed by several realtors in the area – namely, Villa Iberia, Inmo Palafrugell, La Clau Brava, Espigul, and Cala Maset. My understanding is whoever manages to sell the house, gets the commission.
The house is in the Platja d'Aro region and is ~350 m2 in size, with 4 bedrooms and a large outdoor pool, a short drive away from the beach.
Is the price way off, or is something else wrong? Surely 2 years is too long for selling this! Thanks in advance to anyone who takes the time to give some advice.
She gets a 10% cut for managing the property for all this time, and paying out of pocket for various repairs. As a result, she unfortunately has an interest in seeing the sale price be as high as it can be. She lives in the villa next door.